JOHANNESBURG, Nov 19 (Reuters) – The following economic event, equity and currency market moves may affect South African markets on Tuesday.
ECONOMIC EVENTS
South African government’s weekly long-term bonds auction
SOUTH AFRICAN MARKETS
South Africa’s rand jumped on Monday, as markets welcomed rating agency S&P’s decision to raise the country’s credit rating outlook.
On the stock market, the Top-40 index closed 0.6% up.
GLOBAL MARKETS
Asian stocks rose on Tuesday while U.S. bond yields and the dollar hung back from multi-month highs as traders awaited President-elect Donald Trump’s cabinet selection and sought to gauge the outlook for Federal Reserve easing.
WALL STREET
The Nasdaq and S&P 500 closed higher on Monday, recovering some losses as investors anticipate quarterly earnings from AI leader Nvidia, and Tesla jumped on the prospect of favorable policy changes from the incoming Trump administration.
GOLD
Gold prices climbed to a one-week high on Tuesday, buoyed by a softer U.S. dollar, while the market awaited comments from Federal Reserve officials for cues on the U.S. interest rate outlook.
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Some of the main stories out in the South African press:
BUSINESS DAY
– Ramaphosa says SA’s G20 presidency a chance to reform global governance
– Delay in electricity law raises concerns about reforms
(Compiled by Tannur Anders)
